Bank wants Altoona couple to repay $280,000 deposit error

If that ever happens to me, and the teller argues that the deposit is actually mine, I'm getting it in writing.

You tell me that it is mine. It is my account. Possession is 9/10 of the law, GOODBYE money. I am spending it. And I am going to have fun doing it. I might even make a withdraw and place it another bank.

I guarntee the bank will only make this mistake once. I don't blame couple for spending it.

Good thinking and you would wind up exactly where they are. Dumb!

I don't blame the couple at all for spending the money.They tried to tell the bank it was not theirs and the bank insisted that it was.I honestly don't see how they can sue the couple when it was the bank's fault in the first place.The bank needs to make it good

Tammy wrote:

I don't blame the couple at all for spending the money.They tried to tell the bank it was not theirs and the bank insisted that it was.I honestly don't see how they can sue the couple when it was the bank's fault in the first place.The bank needs to make it good

Yep. That's why I say, "Get it in writing". Or at least a copy of the deposit ticket or account statement outlining the deposit.

let this happen to me please!

Surely, the couple knew it was not their's. Even if the bank initially insisted that it was, a reasonable person would know they would catch up with the error sooner or later. I had a similar situation when I deposited $5,000 in an account and the bank credited me with $50,000. This even happened during the Christmas season...very tempting. My wife and I had a few laughs about our "new found wealth" and, in a week or two,the error was discovered. I was more than clear that if I spent some of that money I would ultimately need to pay it back. People shoudn't be able to use human error to stake claim to something that the know doesn't belong to them.

Crystal wrote:

let this happen to me please!

Work like everyone has to want more get another job.Make your money the honest way.You dont need to steal cheat or lie to get money.

Tammy wrote:

<quoted text>Work like everyone has to want more get another job.Make your money the honest way.You dont need to steal cheat or lie to get money.

Someone finding a large sum of money deposited in their account due to a bank error, even after the bank was notified by said someone of the error and the deposit was subsequently verified by the bank, has neither stole, cheated, or lied about it.

Break out the Thesaurus and try again.

Tammy wrote:

<quoted text>Work like everyone has to want more get another job.Make your money the honest way.You dont need to steal cheat or lie to get money.

These people told the bank it was not there money and the bank insisted it was.If you ask me the bank screwed up big time!!

It wasnt discovered until 4 months later? omg whos the controller there, Barney Fife? Get over it and let the people keep the money.

John Waynes Horse wrote:

It wasnt discovered until 4 months later? omg whos the controller there, Barney Fife? Get over it and let the people keep the money.

People need to be honest.I am over it.I would do the right thing if it was me.Start by not spending money that I know does not belong to me.But we dont live in a honest world to many greedy people out their.Greed wont get a person any where.Neither will stealing.That is what this couple did I guess you would do the same thing.WRONG WRONG WRONG!!!!!!

Tammy wrote:

<quoted text>People need to be honest.I am over it.I would do the right thing if it was me.Start by not spending money that I know does not belong to me.But we dont live in a honest world to many greedy people out their.Greed wont get a person any where.Neither will stealing.That is what this couple did I guess you would do the same thing.WRONG WRONG WRONG!!!!!!

Fine, how about a compromise.

If I find $280,000 in my account, then argue fruitlessly with the bank that it's theirs but they don't take it back, I'll move it to a money market account and collect the interest on it. Then when they want to take it back, I'll arrange a payoff plan to get it back to them in the course of a year or two. I'm sure if I threaten to go public with the details and bank mishandling of their assets, they'll waive any "interest" charges paying it back. I'll suck as much interest as I can off the money market account. Even at 1% interest, I would expect to get about $2000 off of $280K over two years.

Just_Me wrote:

<quoted text>
Fine, how about a compromise.
If I find $280,000 in my account, then argue fruitlessly with the bank that it's theirs but they don't take it back, I'll move it to a money market account and collect the interest on it. Then when they want to take it back, I'll arrange a payoff plan to get it back to them in the course of a year or two. I'm sure if I threaten to go public with the details and bank mishandling of their assets, they'll waive any "interest" charges paying it back. I'll suck as much interest as I can off the money market account. Even at 1% interest, I would expect to get about $2000 off of $280K over two years.

thats an awesome idea

Did they argue with the bank saying the money did not belong to them?I really dont think so.Being honest will get you further ahead than not being honest.

Tammy wrote:

Did they argue with the bank saying the money did not belong to them?

Here is text from the article:

----
Dickey says Herbert Starbird repeatedly told the bank the deposit was a mistake but that bank employees insisted the deposit was proper. The bank says it was not informed of the mistake.

Dickey says the couple eventually started spending the money after the bank insisted it was theirs.
----

It's a "he said, she said" between the couple and the bank. Although there is an actual paper trail which I am not privy to see, I'm inclined to believe that they did argue with the bank and the bank insisted it was theirs.

I'm not going to argue the meaning of the word "theirs" in the last line, because it could mean the bank said it was theirs as in "the bank's". But based on the context of that last line, as stated by the couple's lawyer, I believe "theirs" meant "the couple's"

Ok they said it was not there money.The bank saidit was.Well in the beginning they said it wasnt there money right?Well then they should of not spent it then.Banks,stores,and etc have people working for them no one is perfect we all make misstakes the couple who spent the money is just as wrong as the bank was.So everything they bought with that money the bank shouldtake and the money uncounted for is the lose the bank should take.But I am sure alot of material things was boughtthat can be taken.Vacations and etc that was spent with that money the bank should take the lose.As for me I would of never taken that money.A friend and I was in the mall we found a bag of change.We turned it in to the store they said ifno-one claimed it they would call us.We thought ok but never thought more of it.Four weeks later we got a call from the store they said come in get the change.We went in there was 68 dollars in change.Honesty will always pays off.If we did not get the change back ok.We done what was right that is what matters.

Hello, Around Christmas time i was driving and i almost hit a christmas tree and I am an honest person so i took it to a tree farm and left a note saying that i had found it and i left my name and number and a note saying that i had found it . the next day i got a call and they said that i could keep it bc the people hadn't claimed it so there thats how honesty pays off .. and also santa claus treated me good that year i got lots of presents under my christmas tree ...but that could be bc i left him a big plate of cookies.

Idrymyhairwithconair wrote:

Hello, Around Christmas time i was driving and i almost hit a christmas tree and I am an honest person so i took it to a tree farm and left a note saying that i had found it and i left my name and number and a note saying that i had found it . the next day i got a call and they said that i could keep it bc the people hadn't claimed it so there thats how honesty pays off .. and also santa claus treated me good that year i got lots of presents under my christmas tree ...but that could be bc i left him a big plate of cookies.

Good job.